MINNEAPOLIS, Sept. 17, 2018 /PRNewswire/ -- Appliance
Recycling Centers of America, Inc. (Nasdaq: ARCI ), a leading
provider of utility appliance recycling programs, announced today
that its subsidiary, GeoTraq Inc. has recently entered into an
agreement with a software engineering firm specializing in secure
software architecture to design a scalable Internet of Things (IoT)
device management platform capable of securely managing millions of
IoT devices deployed throughout the world using GeoTraq's
proprietary Cell-ID technology.
Cellular IoT products and services are expected to gain massive
traction within many industry segments. The worldwide market for
cellular IoT technologies will be worth $7.6
billion by 2026 and is expected to register a CAGR of 26.7%
from 2018 to 2026, according to a new forecast from analyst firm
Persistence Market Research.
GeoTraq intends to manufacture a cellular IoT module that is
designed to support hundreds of vertical markets and thousands of
applications. GeoTraq expects that businesses will ultimately be
able to deploy GeoTraq powered IoT devices throughout the world for
far less cost and complexity than other IoT solutions currently
available on the market. GeoTraq expects to offer the simplest
global IoT solution on the market.
About ARCA
Appliance Recycling Centers of America, Inc. and subsidiaries
("ARCA") are in the business of recycling major household
appliances in North America by
providing turnkey appliance recycling and replacement services for
utilities and other sponsors of energy efficiency programs. Through
its GeoTraq Inc. subsidiary, ARCA is engaged in the development,
design and ultimately ARCA expects the sale of cellular transceiver
modules, also known as Cell-ID modules. For further product
details, future product release schedules, and more information go
to www.geotraq.com.
Forward Looking Statements
This press release contains statements that are forward-looking
statements as defined within the Private Securities Litigation
Reform Act of 1995, including statements regarding the expected
size of the Internet of Things market and the CAGR that it will
register, GeoTraq's ability to manufacture cellular IoT modules and
offer a global IoT solution. These forward-looking statements are
subject to risks and uncertainties that could cause actual results
to differ materially from the statements made, including the risks
associated with the general economic conditions, GeoTraq's
successful execution of its business plan, including the
manufacture and sale of cellular IoT modules, competition in the
IoT market, and regulatory risks. Other factors that could cause
operating and financial results to differ are described in ARCA's
periodic reports filed with the Securities and Exchange Commission
(the "SEC"). Other risks may be detailed from time to time in
reports to be filed with the SEC
For additional information, please contact:
Tiffani Neilson
Communications Director
855-GEO-TRAQ
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SOURCE Appliance Recycling Centers of America, Inc.